BAKU, Azerbaijan, December 1. The Worldwide
Islamic Commerce Finance Company (ITFC) and the United Nations
Financial and Social Fee for Asia and the Pacific (ESCAP)
will collectively develop a regional funding attraction plan for all
Central Asian international locations, Pattern studies.
Below the TCCA+ program, ITFC and ESCAP have fashioned a strategic
partnership to launch a undertaking with the objective of “Growing
Exports via Overseas Direct Funding (FDI).”
This undertaking enhances ITFC’s flagship TCCA+ program, which
focuses on attaining inclusive financial development, regional financial
cooperation, and commerce growth amongst member international locations of the
Group of Islamic Cooperation (OIC) in Central Asia.
The brand new undertaking, “Growing Exports via Overseas Direct
Funding,” will profit Azerbaijan, Kazakhstan, Kyrgyzstan,
Tajikistan, Turkmenistan, and Uzbekistan. The undertaking focuses on
three key goals: boosting exports via Overseas Direct
Funding (FDI) in strategic sectors like digital providers,
agriculture, lighting, and petrochemicals in Azerbaijan,
Kazakhstan, and Tajikistan; increasing digital and tech corporations to
help companies in Azerbaijan, Kazakhstan, and Tajikistan in
attracting FDI and accessing worldwide markets; and formulating
a regional funding attraction plan underneath the management of ESCAP
inside the SPECA framework, encompassing all six Central Asian
international locations.
ITFC and ESCAP will intently collaborate with nationwide and
regional stakeholders, together with governments, funding promotion
businesses (IPAs), and the non-public sector, to make sure the profitable
implementation of the undertaking.
By 2025, we count on key outcomes similar to creating and
implementing motion plans to advertise exports via FDI in
Azerbaijan, Kazakhstan, and Tajikistan; strengthening the capability
of IPAs by integrating FDI effectiveness indicators into
sustainable funding promotion for commerce; coaching 18 digital and
tech corporations within the area to draw FDI and improve their
worldwide competitiveness; and launching the regional
funding plan on the TCCA+ discussion board in Azerbaijan in 2025, additional
strengthening regional cooperation.
To notice, ITFC is a member of the Islamic Improvement Financial institution (IsDB)
Group. Established in January 2008, its major objective is to advertise
commerce amongst member international locations of the Group of Islamic
Cooperation (OIC), aiming to enhance socio-economic situations for
folks worldwide.
Since its inception, ITFC has offered $75 billion in funding to
OIC member international locations, making it a number one supplier of commerce
options to fulfill their wants. With a mission to behave as a catalyst
for commerce growth for OIC member international locations and past, the
company helps organizations from these international locations achieve higher
entry to commerce financing and offers them with the instruments wanted
to boost their competitiveness within the world market.